ECONOMY

Bank of Cyprus posts losses

Bank of Cyprus Pcl, the country?s biggest lender, posted a full-year net loss of 1.37 billion euros compared with a profit of 306 million euros in 2010, according to final figures released by the Nicosia-based lender Tuesday in an e-mailed statement.

The bank said, in preliminary earnings released on February 21, that after writing down holdings of Greek government bonds its 2011 loss was 1.01 billion euros. [Bloomberg]